Investing.com — Micron reported Wednesday blowout guidance for the current quarter following fiscal fourth-quarter results that topped analyst estimates as AI-led memory chip demand boosted performance.
Micron Technology Inc (NASDAQ:MU) shares rose about 8% in after-hours trading following the report.
Micron reported adjusted Q4 earnings of $1.18 per diluted share on revenue of $7.75 billion. Analysts polled by Investing.com anticipated a adjusted EPS of $1.11 a share on revenue of $7.65B.
The better-than-expected results was boosted by “robust AI demand drove a strong ramp of our data center DRAM products and our industry-leading high bandwidth memory,” the company said.
For Q1, the company forecast adjusted EPS in a range of $1.74, give or take $0.08, on revenue in the range of $8.70B, give or take $200M, compared with estimates for $1.58 and $8.35B, respectively.
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